Intro to mining

Hey new comers! Was going to share some intro to mining tips, with you. Today, we will cover just mining.

Mining is a process similar to verifying a transaction that takes place either by you or another party.

Mining is important because it encourages transparency as well as quicker processing times (cash-in/cash-out). To mine you most often need specialized equipment that is programmed to specific alogorithm. Bitcoin uses Sha-256, Ethereum uses DaggerHashimoto, Doge uses scrypt.

Miners get unique benefits like block rewards, a block is a set of transactions from individuals that send/receive units. This can range from buying pizza to withdrawing units from an exchange. Block rewards vary by maturity.

Don't have a miner? That's ok. Best way to experience digital assets in my opinion is to try it out first hand. You can use your pc and or android smartphone, simply go here create an account.
https://minergate.com/a/2d2a54ee8af59f7fb0fcb4b9

CPU mining, CPU mining uses core of your processor. Each thread will then process the hashes increasing your rate. Might not be the greatest idea to go full blast on a laptop though. Stresses the processor and overheating becomes an issue.

GPU mining, which uses your graphics card. If you're a gamer, this is the best way to earn a return on your graphics card. Best way to mine Ethereum and Ethereum Classic.

ASIC mining, using an ASIC miner such as Antminer, Bitmain, Gridseed. There are many different brands to choose from! When selecting a miner always take note the alogorithm and the power usage.

Now we discussed mining and the three different ways one could mine. Let's move to mining type.

Pow/Proof of Work: this is pretty much the most standard way to earn an asset. Basically, your shares/hashes have you linked to it claiming it as yours.

POS/ Proof of stake: some currencies such as XEM use proof of stake. That is you vest the units into an account which grows at a rate until you withdraw the units. It's important to note that the first time you make a withdraw after vestment, your rate is locked in it doesnt grow like you want it to. So treat all POS mining operations like an interest bearing account.

Tips:
Bitconnect and minergate are great for CPU mining. A person could earn approx $200/month just by mining one of the two.

Leasing purchasing hashing power is rarely profitable.

If you have lower end equipment opt for assets with lower difficulty.

Always...ALWAYS...ALWAYS use two factor authentication.